The monumental men: Si6’s aircore drilling to guide further exploration, map out bulk tonnage gold-min at Monument
Si6 has completed the first phase of aircore drilling at its Monument gold project in Western Australia and is currently waiting on final assay results.
The 126-hole Phase 1 drill program followed on from reverse circulation drilling at the Korong and Waihi banded iron formation hosted mineral deposits, which collectively have an Inferred resource of 154,000oz of gold.
It is aimed at mapping out the distribution of intrusive targets and identify those prospective for bulk tonnage gold mineralisation based on their multi-element geochemical signature.
Si6 Metals (ASX:SI6) notes that the program tested 26 of the 60 high-level targets and that drill samples have been submitted to ALS Laboratories for gold and multi-element assay analysis while end of hole samples were subject to whole rock geochemistry to characterise rock type.
The company noted that assays are finally expected within the next week due to the industry-wide backlog as well as the detailed nature of analytical work requested.
Once all results are received, the company’s exploration manager and suitably qualified industry consultants will review and compile a summary of the multi-element data and an announcement will follow.
Targets identifying as fertile intrusives will be tested in the next round of aircore drilling, which is scheduled to begin in mid-April.
Phase 2 drilling will prioritise prospective intrusive targets in addition to systematically testing the large number of regional, structural targets that are obscured by transported cover and which have seen little to no exploration to date.
Monument is located in the Laverton district adjacent to and along strike from Dacian Gold’s (ASX:DCN) Greater Westralia gold project.
The targeted intrusives have proven to be very substantial within the Laverton Tectonic Zone with projects such as Wallaby (~7Moz gold) and Jupiter (~1.5Moz gold) being two significant examples.
Both the Korong and Waihi prospects are partly amenable to open pit mining methods and remain open in all directions, which presents the potential for resource growth.
This article was developed in collaboration with Si6 Metals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.